Bitcoin is the most valuable cryptocurrency in the world and it has the potential to change the financial scenario of the world. Investing in Bitcoin is also one of the best ways to make a good profit. In this comprehensive guide, you will learn how to Buy Bitcoin securely in Ireland. Let’s get started.
How to Buy Bitcoin Securely in Ireland
If you are new to the world of cryptocurrencies or you don’t know how the trading works then there is no need to be worried. You can follow these steps to get the Bitcoin without any problem.
Choose a Bitcoin Wallet
Cryptocurrencies are the digital asset and they have long and complex combination (Private key) which you can’t remember. So in case if you forget or lose access to your cryptocurrencies then there are no chances of recovering it. That’s the reason why we use the Bitcoin Wallet to secure the private keys of Bitcoin. When it comes to bitcoin wallet, there are different types of wallets available in the market.
- Desktop Wallets are the wallets which you can install on your computer and use them to store the private keys. Desktop wallets keep the private keys on your hard drive.
- Mobile Wallets are the wallet apps which you can install on your smartphone. Mobile Wallets usually store the keys in the third-party servers.
- Web Wallets are the online wallets which you can access via the browsers. Web Wallets are more prone to hacking or phishing.
- Hardware wallets are the physical wallets where you can store the private keys. When it comes to security, hardware wallets are the best.
- Paper wallets are the conventional way of storing private keys. You can print the private keys on the paper and you can use this paper as a wallet. However, it is not as secure as a hardware wallet.
If you want the best possible security then you should go for Hardware wallet. If you are on a budget then you should go for Desktop or Mobile Wallets but make sure to have the good anti-virus and anti-malware software on your laptop. On a smartphone, make sure that you don’t open any link or app from an unknown source.
Choosing a Cryptocurrency Exchange
As cryptocurrencies are not as regulated as fiat currencies, you can buy the cryptocurrencies from many sources, following are some of the best sources to buy cryptocurrencies securely.
Crypto Brokers are the websites where you can buy the bitcoins. Crypto brokers are more simple as compared to cryptocurrency exchanges and they also offer more payment options. The only downside of Crypto Broker is that you will have to buy the bitcoin at fixed price with high fee.
Cryptocurrency Trading Platforms
Cryptocurrency Trading Platforms are the ones where you can either buy the bitcoin using the other cryptocurrencies. These platforms usually have the lower fee as compared to crypto Brokers and you can only get the cryptocurrency with another cryptocurrency.
P2P Bitcoin Exchanges
Peer to Peer (P2P) Exchanges allows the traders to trade directly with other traders. The sellers can sell their bitcoin at the price they want and the payment method they prefer. P2P Bitcoin Exchanges work well in some cases but in most of the cases, you may have to settle for a high price if you want to get the Bitcoin.
What are the best Bitcoin Exchanges?
Following are some of the best Bitcoin Exchanges out there.
- Coinbase – Credit Card/Debit Card
- LocalBitcoins P2P Exchange – iDEAL, Credit/Debit Card, Cryptocurrency, SWIFT, Western Union
- eToro Cryptocurrency Exchange – Wire, Credit/Debit Card, WebMoney, PayPal, Yandex Money
- BitMEX BitIt – Cryptocurrency
You can use any of the above-mentioned cryptocurrency platforms to buy the cryptocurrencies securely. These Platforms have good reputation among the community and they also have good customer support.
Now it’s time to select the platform where you will buy the Bitcoin. Once you are done, you may have to signup and verify your identity depending on the platform you choose. After verification, you can log in and enter the amount you want to buy, select the payment method you want to use, review the fee and confirm the transaction. In some cases, you may have to submit the money in advance and then you can buy the bitcoin. Once you have bought the Bitcoin, make sure to transfer them securely to your Bitcoin Wallet.
If you are new to the world of cryptocurrencies then it can be trickier. So if you are not sure about anything then you can contact Bitcoin Buyer – a team of dedicated & highly experienced cryptocurrency experts who will guide you and answer all your queries.
I am a highly experienced writer and editor in the cryptocurrency field. I have written for numerous publications, including CoinDesk and Bitcoin Magazine. I am also the author of two books on cryptocurrency investing. I am passionate about blockchain technology and its potential to change the world, and I firmly believe that cryptocurrencies are here to stay forever.